For the serious real estate investor hoping to build long-term wealth, knowing the right people matters. Whether it’s learning about exciting new opportunities, meeting potential investing partners, getting the scoop on who’s reliable in the contracting world, or connecting with people who might be interested in buying one of your properties. Real estate networking can truly take your investment game to the next level.
Here are a few real estate investment networking tips to help you make the most of your time spent networking — both in the real world and online.
Real estate networking events are a great way to make connections, but they’re also a wonderful way to absorb knowledge from various areas of the real estate field, from agents and attorneys to property managers and buyers. Take time to really listen to what the people around you are saying. In addition to picking up some great tips, you’ll make a more positive impression on others if they feel you really value what they’re saying.
Everyone will bring their business cards to a real estate networking event (and you should, too). While leaving with a giant stack of business cards may seem to indicate that the meeting was a successful one, what really matters is what you do with those contacts after the event is over. When you get home, organize all of the names, contact information, and any pertinent details about each person so that you can find it when you need it down the road.
To really make a great impression and develop solid connections, you need to do more than show up, nod, and collect/hand out business cards. Research the latest hot topics in the real estate community in your area. What are the pros and cons of the monster high-rise that’s about to be built on the west side of downtown? Be prepared to have an educated conversation about what’s going on locally.
Although online forums may seem like something from the Stone Age in this day of social media, they can feature a wealth of information about potential investment opportunities as well as areas from which you should steer clear. Do a bit of searching to find ones that feature active, up-to-date discussions. While you can lurk and soak up information like a sponge, you’ll get more out of the forums if you use them as a potential real estate networking opportunity and get involved in the conversations.
Another way the internet can help connect you with others in the real estate investment community is through resources such as Biggerpockets.com. The site allows people to schedule and search for gatherings, so it’s an absolute must for those who are interested in attending meetings and various real estate-focused events.
No matter what business you’re in, social media is a must — and turnkey real estate investing is no exception. Sites like Facebook and Twitter are incredibly helpful for real estate networking because they give you instant access to real estate connections, groups, and events. Whether you’re on the lookout for a hot new property or are researching the best real estate investment firms, social media will put you in the know.
Keep in mind that if turnkey investing is your business, whether it’s primary or a way to generate income on the side, you need to manage your social media presence as such. In order to avoid alienating potentially valuable investment contacts, keep posts about controversial topics such as religion or politics set to private or don’t post them at all.
Although, the thought of adding any more tasks to your already crowded-schedule probably isn’t a pleasant one to think about but think of real estate networking as a valuable investment opportunity. With so many networking opportunities out there (and creating valuable long-lasting relationships is critical to taking advantage of those networking opportunities), time you spend networking is time that can really pay off richly in the end!